Ending gender inequality at work could actually boost the global economy—by $28 trillion. In North America and Australia alone, giving women equal treatment as their male coworkers would add $3.1 trillion to these economies, according to a new report from the McKinsey Global Institute.
The global consulting firm looked at 15 inequality indicators in 95 countries, such as female workforce participation, the gender wage gap, women in leadership positions, and positions held in professional and technical jobs.
Here is what they found:
- 40 out of 95 countries have extremely high gender inequality on half or more indicators of physical, social, legal, and political gender inequality.
- The regions with the worst gender inequality are India, the Middle East, North Africa, and South Asia.
- North America, Western Europe, and Australia have the least inequality.
- In 93 percent of countries, there is a high gap between the number of men and women holding leadership positions at work.
- In 93 percent of countries, there is a high gap between the salaries men and women make for doing similar work.
- North America and Australia could gain a total of $3.1 trillion to their economies (GDP) if they completely closed the workforce gender-inequality gap by 2025.
This story is part of our Next America: Workforce project, which is supported by a grant from the Annie E. Casey Foundation.